Dogecoin is getting closer and closer to its $1 target after another all-time high record - this time at $0.74.
More social media engagement from Tesla’s Elon Musk and the anticipation for his first-ever appearance on SNL where he could mention Dogecoin have pushed the meme token’s price into the stratosphere again. DOGE came roughly $0.25 away from tapping $1 after yet another price record.
2021 is the year of the DOGE in the cryptocurrency space. The meme coin started as a joke in 2013 traded around $0.005 at the start of this year, but its price has seen an indescribable surge in the months that followed.
CryptoPotato has frequently reported DOGE’s records, and the latest one came just a few hours ago.
Dogecoin had retraced after its previous ATH to below $0.6, but the bulls took charge again and pushed it further north. In a matter of hours, DOGE spiked by more than 22% to its latest record at $0.74 (on Bitstamp).
Interestingly, this price pump came amid more Elon Musk tweets regarding his favorite meme coin.
Tesla’s CEO has supported the cryptocurrency for a while with numerous social media engagements. In fact, he has previously referred to himself as the “DOGEFATHER.”
Furthermore, the billionaire will host Saturday Night Live this weekend, and he has hinted quite a few times that he will mention Dogecoin.
With its latest record, DOGE’s market cap exploded to above $90 billion. Thus, the meme coin is roughly $5 billion away from surpassing Binance Coin and entering the top three coins by market capitalization.
Outside of the crypto industry, DOGE is now bigger than Airbnb, Uber, General Motors Company, Zoom, FedEx, and more.
Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn
